Worries over the financial strength of the sector persist, with Deutsche Bank shares down 13%.
Bank shares across Europe have fallen sharply as worries over the financial strength of the sector return.
Shares in Germany's Deutsche Bank saw the biggest fall, dropping 13%, and there was also a sharp jump in the cost of insuring against losses on its debt. Investors have already been spooked by the collapse of two US banks and the rushed takeover of Swiss giant Credit Suisse by its rival UBS.Other banks to see hefty share falls included Germany's Commerzbank, down 8%, and France's Societe Generale, which fell 7%.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Deutsche Bank heads new rout for banking stocks on financial marketsGermany's largest bank has become the focus in a new wave of selling across banking and wider financial stocks, less than a week after the forced takeover of Credit Suisse.
Read more »
Investment banks Cenkos and finnCap to merge in all-share dealA tie-up between two of the City of London's best-known investment banks catering to smaller listed companies is expected to be announced on Thursday morning, Sky News learns.
Read more »
Stephen Flynn asks Tory MPs when they will realise 'that Brexit can't work'The SNP Westminster leader also asked Sunak what 'worries' him most about Brexit.
Read more »
Banks Are Going to Cause a Recession AgainFor the second time in the 21st century, mistakes in the financial sector could topple the economy.
Read more »
Central banks face an excruciating trade-offIt would be a mistake to stop fighting inflation to preserve banks. But inflation also needs to be brought down in a controlled manner
Read more »
We live minutes from world's priciest homes while we have to use food banksJUST a stone’s throw from the richest postcode on earth and a multi-billion pound mega-yacht fleet lies a world of poverty and food banks. Sandbanks in Poole, Dorset, is home to some of Brita…
Read more »